Three years after first proposing that banks be prevented from making market bets with their own money, Paul Volcker's rule remains unfinished. Scott Patterson joins MoneyBeat. Photo: AP.

This transcript has been automatically generated and may not be 100% accurate.

... ay ay mm mm ... I ... I ... I ... three years after first proposing that banks be prevented from making market bets ... with their own money ... BallBall Cllr Paul Volcker rule remains un finished before it's done a rule that one at first ... the one and a half pages to explain the net take nine hundred pages ... to detail ... Scott Patterson joins us this morning to explain why the ball roll ... taking so long to write ... morning Scott how are you ... the ... area ... so it is a long story the guys rode down there ... why is it taking so long ... to get a one and a half page rule ... written ... pray well is a good couple reasons one is ... it's a very complicated role which we try to explain ... the ... well what they're trying to do is ban proprietary trading but they've learned that it's very difficult to differentiate ... that kind of trading from other ... legitimate allowed kinds of trading at banks itches Hedge ing or market making ... aam but the other thing that we learned after speaking with dozens of people been involved in this process ... is that the regulator's really have ends ... up ... played soo well together over the past couple years there's been a lot of victory ... a lot of disagreements on some regulators and often around to ... try the workaround others and I think that's also played a role in slowing things down a lot ... well it's not just that the ball pool for the Dodd Frank reform ... it's not just the Volcker rule the entire Dodd Frank bill ... they are still trying to write that ... yet they're still lot they're working on ... they're still working on derivatives reform ... you know apply how to apply ... these rules overseas is ... proving to be one of the hardest ... challenges of the of the rules so ... yet are so long way to go up before we focus on the Volcker rule because it's for the emblematic of the entire ... Dodd Frank Schaeffer ... um ... so it's a ... it's amazing he is seen whether this is in a successful law ... I think ... there is good debates on those nights and guided in our history we the job ... I how what Paul Volcker think about the fact that it's taking so long to write the Volcker rule ... pray well every week when the story saying it's ridiculous to so ... he just the I'd I spoke with and he's ... pretty exasperated he just kind of ... last night cleanly ... I think somehow that because ... he is done ... he thinks they shouldn't be that difficult ... did ... you know he's a seizure just writes in the fairly short the regulators will know how to apply it ... um but this is in a way it's also reflective of the industry push back on the role ... do of industry came to the regulators and they were fearful ... that the role of the very day in and brought in ... and ... they would really know how to comply with that so they ask the regulator's be very specific ... in outlining ... the prohibited activities so they would know were the bright lines are ... so that in part it has resulted in the way from the complexity that we're seeing ... in this role ... but at the same time that the industry will say ... it is been about to complain about how long it is and how complex is so ... you know they there in ... time and in a situation they get to complain on both sides ... I and and make a profit while the